Canopy Rivers, the venture-capital arm of Canopy Growth, made its debut on the Toronto Stock Exchange Thursday morning at $10.75 per share — sinking 18% in trading to close at $8.75.

The company, which makes minority investments in burgeoning marijuana companies, in an attempt to become the "Google Ventures of cannabis," found its way onto the exchange via a reverse takeover with a company formerly known as AIM2 Ventures.

Canopy Growth will maintain its roughly 25% stake in Canopy Rivers, and controls about 90% of the voting rights thanks to the venture arm's dual-class governance structure. The other three quarters of Rivers' roughly $200 million of investments have come from institutional investors.

"In Canopy I don't want to be in the business of growth directly, by trying to make bets on stocks through buying and selling," CEO Bruce Linton told the Canadian program Midas Letter last week. "In Rivers, we want to be in that business. We're not just putting cash into them, we're putting intellectual skills and expertise."

So far the firm has made 11 investments in smaller companies. It looks for stellar management teams with a track record of success when making new investments, a Rivers executive recently explained to Business Insider.

There's still plenty of room for the space to grow, too, Wall Street analysts estimate. Nik Modi, an analyst at RBC Capital Markets, thinks the global-cannabis market could be worth more than $200 billion by 2032, fueled by further legalization in the United States and other countries.

That global expansion is what Canopy Rivers hopes to tap through its strategic investments and deals.

"Canopy Rivers presents a world of opportunity for its partners and for Canopy Growth," CEO Bruce Linton said in a press release.

"It’s the type of relationship that allows us to continue to grow our lead in this incredibly dynamic industry … Whether it’s access to new brands, new technologies, differentiated products, first rights to future financing opportunities, and even rights to future full acquisition, Rivers will build value for shareholders, including Canopy Growth by building value for its portfolio partners."